CEX.IOmostTrusted2
Analysis

Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With

After the XRP token recorded an all-time high in daily trading volumes for crypto exchanges in the US, the Ripple ecosystem has achieved a new milestone, successfully hitting over 82 million registered ledgers on its XRP Ledger. 

XRP Ledger Surpasses 82 Million Ledgers

XRP Ledger, a decentralized public blockchain backing the XRP token has gained recognition for its unique consensus algorithm and incorporation of the XLS-20 protocol. The leading cryptographic ledger reported that it had closed approximately 82,035,421 registered ledgers on its blockchain. 

This achievement follows another milestone in August where XRPL successfully locked in 81 million ledgers. The blockchain ledger’s rapid growth has been a significant achievement for the ecosystem, emphasizing XRPL’s commitment to decentralization and focus on speed, scalability, and security. 

A blockchain researcher, Collin Brown announced details of XRPL’s recent achievements in an X (formerly Twitter) post on Thursday, September 21. Brown was enthusiastic about the current development in the XRP ecosystem and even suggested that the XRP blockchain ledger is on its way to becoming an adversary to crypto giants in the space like Bitcoin and Ethereum. 

“With over 82 million ledgers successfully closed, the XRPL continues to make history. The XRPL’s growth in NFTs positions it as a STRONG competitor to Ethereum, paving the way for increased XRP adoption!” Brown said. 

XLS-20 Feature Drive Crypto Adoption And Growth For XRPL

The XRP Ledger has long been celebrated for its advanced scalability and decentralization features. However, with the introduction of the XLS-20 feature in 2022, XRPL has emerged as a force to be reckoned with in the NFT ecosystem

See also  Bitcoin bulls force a breakout past $55k, but a drop to $53.5k seems likely

The XLS-20 protocol delivers new features to the XRP ledger. According to Brown, XLS-20 is integrated with special features like minting and burning, automated royalties, DEX integration, and traditional NFTs. 

XRPL has also recorded over 1.9 million NFTs minted on the ledger and almost 30,000 user accounts own 1.6 million of the minted NFTs. Additionally, approximately $12.8 million worth of NFT assets have been sold in one-step transactions on the blockchain. 

While XRPL’s foray into the NFT sector has sparked major interest among creators and collectors in the space, the XRPL ecosystem has also reported upcoming upgrades in its layer 2 smart contract platform, Evernode

According to reports, the Evernode network will be featuring new upgrades that improve the reliability and sustainability of the platform, while also furthering crypto and NFT adoption and innovation in the space.

XRP price chart from Tradingview.com (XRP Ledger)

Token price still trending above $0.5 | Source: XRPUSD on Tradingview.com

Featured image from Finbold, chart from Tradingview.com

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button